From: Marion Huseby [mhuseby@hsonline.net]
Sent: Tuesday, November 18, 2003 8:20 AM
To: rule-comments@sec.gov
Cc: lugar@lugar.senate.gov
Subject: Naked Short Sales (s7-23-03)
Senator Lugar has informed me that your committee is reviewing your double
standard enforcement of short sales since you are not enforcing the 1934 law
against naked short sales in the bulletin board market. The 1934 law directed
the Commission to "purge the market" of short selling abuses. Further, it
appears you are going to drag this double standard out for a two year period.
When will this end???? Probably when you and the people you represent (special
interests such as security dealers) have all the money. Does anyone in Washington
look out for the welfare of the common man or small companies or even care what
is right or wrong. Let's make it plain: IT IS ILLEGAL AND IMMORAL TO SELL
SOMETHING YOU DON'T OWN. Now swallow hard and fix it. NOW. If you don't, you
are letting security dealers keep the tool (lack of enforcement) they use to
drive most small bulletin board companies into the ground. If you are in doubt,
please take a look at the class action suit currently in progress against Naked
Short Sales by 70 some bulletin board companies. Why do the courts have to do
what the Commission should already be doing. A good question. A voter .
Marion Huseby
1602 Hunter Place
Columbus, Indiana
mhuseby@hsonline.net